Biogen Inc (NASDAQ:BIIB) Shares Sold by Standard Life Aberdeen plc

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Standard Life Aberdeen plc cut its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 122,220 shares of the biotechnology company’s stock after selling 6,567 shares during the quarter. Standard Life Aberdeen plc owned about 0.07% of Biogen worth $36,266,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. lifted its position in Biogen by 279.1% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 860,123 shares of the biotechnology company’s stock valued at $255,223,000 after buying an additional 633,249 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Biogen by 8.3% in the 4th quarter. Renaissance Technologies LLC now owns 4,569,906 shares of the biotechnology company’s stock worth $1,356,028,000 after acquiring an additional 348,700 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Biogen by 272.1% in the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 400,581 shares of the biotechnology company’s stock worth $118,864,000 after acquiring an additional 292,927 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Biogen by 11.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,117,304 shares of the biotechnology company’s stock worth $628,268,000 after acquiring an additional 225,925 shares during the last quarter. Finally, Man Group plc boosted its position in shares of Biogen by 47.0% during the 3rd quarter. Man Group plc now owns 694,842 shares of the biotechnology company’s stock worth $161,773,000 after purchasing an additional 222,250 shares during the period. Institutional investors and hedge funds own 86.91% of the company’s stock.

NASDAQ BIIB traded up $19.96 during trading on Thursday, reaching $304.94. 2,270,054 shares of the company’s stock were exchanged, compared to its average volume of 2,044,114. The stock has a market cap of $51.42 billion, a P/E ratio of 9.69, a price-to-earnings-growth ratio of 0.87 and a beta of 0.90. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.56 and a current ratio of 1.72. The company has a 50 day moving average price of $315.14 and a two-hundred day moving average price of $283.38. Biogen Inc has a 1 year low of $215.77 and a 1 year high of $374.99.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, January 30th. The biotechnology company reported $8.34 EPS for the quarter, beating analysts’ consensus estimates of $8.02 by $0.32. Biogen had a return on equity of 46.51% and a net margin of 40.96%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the prior year, the business posted $6.99 EPS. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. Research analysts forecast that Biogen Inc will post 32.62 EPS for the current fiscal year.

Biogen declared that its board has initiated a stock repurchase plan on Saturday, December 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the biotechnology company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In other Biogen news, Director Stephen A. Sherwin sold 2,434 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $295.22, for a total value of $718,565.48. Following the transaction, the director now directly owns 16,517 shares in the company, valued at $4,876,148.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.39% of the company’s stock.

BIIB has been the topic of a number of research analyst reports. Credit Suisse Group boosted their target price on Biogen from $300.00 to $330.00 and gave the company a “neutral” rating in a research report on Thursday, February 6th. SunTrust Banks lifted their price objective on Biogen from $337.00 to $360.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. ValuEngine cut Biogen from a “hold” rating to a “sell” rating in a research note on Tuesday. Royal Bank of Canada reiterated a “hold” rating and issued a $335.00 price objective on shares of Biogen in a report on Wednesday, March 18th. Finally, Mizuho increased their target price on Biogen from $300.00 to $316.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $325.17.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

Further Reading: Trading based on a resistance level

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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